[ExI] Toyota bZ4X concept electric battery Topics Electrifying the Future: Toyota Puts Over $13 Billion Into Battery Technology

[John Grigg]

"The world’s largest car manufacturer by volume has been sluggish in its
efforts to electrify compared to competitors. But Toyota has just announced
<https://www.reuters.com/business/autos-transportation/toyota-spend-over-135-bln-ev-batteries-by-2030-2021-09-07/>
a
huge investment in battery technology that may be a sign it’s shifting
course.

 Although Toyota’s Prius hybrid was the first electrified vehicle to really
hit the mainstream, the company failed to capitalize on its early lead. It
still doesn’t sell a fully electric vehicle in either the US or Japan, at a
time when more or less every major automaker—from Volvo to Volkswagen—has
at least one model powered by batteries alone.

The company seems to be belatedly joining the party after executives
announced that it would invest $13.6 billion in battery technology
<https://www.theverge.com/2021/9/8/22662236/toyota-battery-investment-electric-cars-hybrids-2030>
over
the next decade. This includes $9 billion to be spent on manufacturing,
which will see it scale up to 10 battery production lines by 2025 and
ultimately up to around 70.

During a press briefing,
<https://global.toyota/en/newsroom/corporate/35971839.html>chief technology
officer Masahiko Maeda said part of the company’s plan is to reduce the
cost of batteries by 30 percent or more through innovations in materials
and new designs. They are also working on ways to reduce the amount of
energy the car draws from those batteries by 30 percent.

All of this follows from the company’s April announcement
<https://global.toyota/en/newsroom/toyota/35083987.html> that it plans to
release 70 electric cars around the world by 2025, suggesting that it’s
finally joining the consensus among automakers that electric vehicles are
the future."
https://singularityhub.com/2021/09/13/electrifying-the-future-toyota-puts-over-13-billion-into-battery-technology/
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